Manufacturing Africa's Riple raises US$25mn

RIPLE secures $25M to drive renewable energy adoption across multiple sectors of the Nigerian economy from the Nigeria Sovereign Investment Authority as its founding investor

RIPLE is Nigeria’s first sovereign-backed renewable energy investment platform, designed to catalyse large-scale deployment across renewable technology manufacturing, energy generation, and distribution.

Having raised and committed over $25m across a range of equity positions, RIPLE’s active portfolio spans solar PV assembly, lithium battery manufacturing, healthcare electrification infrastructure, telecommunications decarbonization, and commercial and industrial energy solutions, reflecting the platform’s ambition to drive renewable energy adoption across multiple sectors of the Nigerian economy.

Manufacturing Africa supported RIPLE’s investor readiness by helping the company:

• Validate the market opportunity and competitive landscape of Lithium Battery Manufacturing in Nigeria
• Develop a robust feasibility report for the assembly and manufacturing of lithium-ion batteries (LFP) in Nigeria
• Develop a commercial framework and revenue model for the project
• Develop an Environmental & Social Management Framework for the project

Resulting impact:

• Clean energy transition - Batteries produced will support renewable energy adoption and electric mobility, reducing reliance on fossil fuel-based captive generation and carbon-intensive transport
• Technical skills creation - The lithium-ion battery manufacturing plant brings advanced production technology to Nigeria through knowledge transfer from technical partners
• Import substitution - Domestic battery production reduces Nigeria’s dependence on costly imports, which currently attract high duties, lowering costs for end users and strengthening the local supply chain

Programme impact achieved to date: 

• £2Bn+ In foreign direct investment mobilised
• 150K+ Jobs committed
• 300+ Companies being supported
• 70+ Companies raised capital